NBC clarifies performance bonus payment

The NBC has again clarified the payment of performance bonuses to staff members who fall under the Total Cost to Company (TCTC) category, saying it is the first time in five years this group of employees have received this payment, which forms part of their contractual obligations. Director-General Stanley Similo says that the N$5,4 million, paid to those on TCTC, is exaggerated if seen in isolation but should be seen against the total of N$47,6 million paid to those in the conventional category, which is conveniently left out by those spreading misinformation. In addition, the NBC says, this incentive-based remuneration is not only applicable to management but open to all staff who have subscribed to it, and that this structure has inherent risks away from what the conventional pay structure holds.